Summary: Parisian Web3, Google x Coinbase, Hack Crypto, stablecoins under pressure

Paris welcome Crypto.com AND Funds Web3 e trace; 3 billion dollars e stolen arguments IN 2022; ExcHAnGE AND COPPER refuel; Google cloud joins forces with Coinbase; USDC AND DAI back… Back to tidings of the week.

of France would there be obvious advantages for crypto-asset players ? This week, Jean-Noël Barrot, Ministerial Delegate for Digital Transition, was pleased with “two good news for #crypts and #web3 in France”. scholarships Crypto.com so he chose to set up European headquarters in Paris. He plans to invest 150 million euros in it.

Paris is also hosting a new fund with Lams Web3. Company fund trace “It will invest in new French web 3 companies to accelerate their development in the field of luxury, art, music and sports,” the government member emphasizes. Note, however, that the Parisian VC is allied on this with the Swiss Share capital.

Payment in Cryptocurrencies in the Cloud

of clouds is a dynamic market largely dominated by American giants, the hyperscalers that they are Microsoft, AWS AND Google. The Californian from Mountain View hopes to lure another growing sector, precisely that of Web3. To carry out this invasion, Google has therefore decided to accept payments in crypto-assets for his service Google Cloud.

To offer this payment option, Gafam is collaborating with Coinbase. Their partnership, however, goes beyond that crypto. The stock market plans to migrate applications hosted in the cloud from AWS to GCP. Google aims to convert other manufacturers in this new ecosystem to its cloud products, including BigQuery.

361 million invested in crypto and DeFi

Analysts had warned: bear market will result in a capital reduction invested in Web3 companies. This is especially true for young shoots. Players who are already entrenched and whose value proposition has been dismantled experience less difficulty – even if valuations are revised down.

In the span of a week, two companies raise more than $350 million from investors. of Uniswap DEX makes its B series in the midst of crypto winter, raising $165 million. His value is estimated at 1.6 billion dollars. Specialized in custody, COPPER her loop $196 million Series C. A performance… but well below the initial target of 500 million for a $25 billion valuation.

$3 billion in stolen tokens in 2022

Trading activity has slowed since the beginning of the year. It is different from that of cybercriminals. of hackers were numerous in 2022. chain analysis already counts 125. This is less than for the whole of last year. On the other hand, the amount of stolen tokens reaches the peaks: 3 billion dollars.

October was the worst month of 2022 with Binance blockchain hack and to Mango IN Challenges. During this period, the damage is estimated at at least 718 million dollars. It is the return of large-scale attacks. Ten attacks represent $1.7 billion. These crimes are sometimes solved. This is the case in France for flights NFT large collections. 5 people were recently arrested in Paris for theft BAYC and other signs.

USDC and DAI should react among stablecoins

Two stable market currencies are struggling this year. This is the case ofUSDC of the Circle. However, its market capitalization had increased after the TerraUSD crash. However, since July, it has followed a reverse slope. Two rivals benefit. L’USTDA AND BUSD see the progress of their market over the same period. During the 3 months, the capitalization of USDC fell by 16% while that of USDT and BUSD increased by 4% and 23% respectively.

of DAI it is also under pressure. This is reflected in particular with a sharp drop in MakerDAO’s revenue. Issuer DAI recorded a more than 80% drop in revenue in the third quarter, even making a loss. The fault is low lending activity and over-reliance on the USDC, whose yields are low. To improve its results, MakerDAO therefore it is converted USDC reserves in US Treasuries. But for Messari, the solution lies in a stronger one DECENTRALIZATION.

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